Environmental Upgrade Finance – Explained
This article was originally published by Solar Choice Staff on 11 November, 2019 Established in 2002 and initially called the Sustainable Melbourne Fund, the City of Melbourne developed the fund t..
We have some big news...
We've grown beyond our Melbourne home and are now preparing to work with businesses across Australia to achieve their environmental upgrades.
The Sustainable Melbourne Fund was originally established by the City of Melbourne in 2002. Since then, we've financed over $30m in environmental upgrades for Victorian businesses, resulting in the abatement of over 300,000 tonnes of CO2 emissions as well as substantial cost savings to Victorian businesses through upgraded infrastructure.
Building on this vision, the renamed Sustainable Australia Fund has a significant funding commitment of up to $200m available through Bank Australia. We're ready to help businesses across Victoria, South Australia and New South Wales (for now) achieve their building upgrades, ensuring savings through energy efficiencies as well as improving sustainability.
Environmental Upgrade Finance provides simple, fixed-rate, long-term terms of up to 20 years for building upgrades. We're able to deploy up to 100% of the finance for businesses wanting to achieve more, using less energy. This is most often done through installation of solar and batteries, waste and water solutions as well as more innovative and complex solutions such as waste to energy. This loan is then repaid through quarterly council rates.
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